|
Report Date : |
14.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
EDWARD WONG & CO. LTD |
|
|
|
|
Registered Office : |
1/F. & 2/F., Edward Wong Tower, 910 Cheung Sha Wan Road, Kowloon |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
May 1957. |
|
|
|
|
Com. Reg. No.: |
01411579 |
|
|
|
|
Legal Form : |
Private Limited Company. |
|
|
|
|
Line of Business : |
Importer, Exporter and Manufacturer’s Representative; Investment Holding and Finance. |
|
|
|
|
No. of Employees : |
190 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
Litigation : |
Exists |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EDWARD WONG & CO. LTD.
1/F. & 2/F.,
Edward Wong Tower, 910 Cheung Sha Wan Road, Kowloon, Hong Kong.
PHONE: 2310 5780, 2370 3111,
2370 3883
FAX: 2310 9150
E-MAIL: enquiry@edward-wong-group.com
Chairman: Mr. Wong Ching Mao, Edward
Establishment : May 1957.
Incorporated on : 17th December, 1962.
Organization : Private Limited Company.
Capital: Nominal : HK$10,000,000.00
Issued : HK$8,000,200.00
Business Category : Importer and Exporter; Finance.
Yearly Group Turnover : HK$1.1~1.2 billion.
Group Employees : 190.
Main Dealing Bankers : The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Banking Relation : Good.
EDWARD WONG
& CO. LTD.
Registered
Head Office:-
1/F. & 2/F.,
Edward Wong Tower, 910 Cheung Sha Wan Road, Kowloon, Hong Kong.
G.P.O. Box 79239,
Hong Kong.
Holding
Company:-
MTC International
Investments Corporation, British Virgin Islands.
Subsidiary/Associated
Companies:-
Atelier Capital
Partners Inc., Canada.
Bright Scene
Estates Ltd., Hong Kong.
Chongbang
Development Ltd., China.
Chongbang Holdings
(International) Ltd., China.
Citiland
Development Corporation, Canada.
Dues Properties
Ltd., Hong Kong.
Edward Wong Credit
Ltd., Hong Kong.
Edward Wong
Development Co. Ltd., Hong Kong.
Edward Wong
Finance Co. Ltd., Hong Kong.
Edward Wong
Garment Co. Ltd., Hong Kong.
Edward Wong
International Ltd., Hong Kong.
First Trading Co.
Ltd., Hong Kong.
Forrester Group
Ltd., China.
King Lam
International Investment Co. Ltd., Hong Kong.
New Iris
Properties (Hong Kong) Ltd., Hong Kong.
Palladium
Development Corporation, Canada.
Shung On
Properties Management Ltd., Hong Kong.
Silkstone
Investments Ltd., Hong Kong.
Sino Speed Leather
& Hides Ltd., Hong Kong. [Dissolved]
Sunny
Hills-Palladium LLC, USA.
Takano Secretarial
Services Ltd., Hong Kong.
Walter &
Edward Industries Ltd., Hong Kong.
[Dissolved]
Walter Textiles
Ltd., Hong Kong. [Dissolved]
etc.
01411579
0008305
Chairman: Mr. Wong Ching Mao, Edward
Managing
Director: Mr. Stephen S. S. Wong
Contact Person: Ms. Chan Yuk Chun, Polly
Nominal Share
Capital: HK$10,000,000.00 (Divided into 20,000 Ordinary shares and 80,000
Deferred shares of HK$100.00 each)
Issued Share
Capital: HK$8,000,200.00
(As per registry dated 17-12-2011)
|
Name |
|
No.
of shares |
|
|
|
|
Ordinary |
Deferred |
|
MTC International Investments Corporation P.O. Box 957,
Offshore Incorproations Centre, Road Town, Tortola, British Virgin
Islands. |
|
2 |
- |
|
WONG
Ching Mao, Edward [Husband] |
|
- |
66,400 |
|
WONG CHEN Yuih
Li, Yolanda [Wife] |
|
- |
13,600 |
|
|
|
–– |
–––––– |
|
|
Total: |
2 = |
80,000 ===== |
(As per registry dated 17-12-2011)
|
Name (Nationality) |
Address |
|
FONG Mei Ling |
Room 303, 3/F., Siu Kwai Mansion, Siu
Keung Court, Tuen Mun, New Territories, Hong Kong. |
|
TANG Yuk Kuen |
Flat A, 28/F., Yee King Court, 513-521
Shun Ning Road, Cheung Sha Wan, Kowloon, Hong Kong. |
|
TONG Hoi Kuen |
Flat C, 12/F., Tower 1, Parc Royale,
Shatin, New Territories, Hong Kong. |
|
Barton Wong (British) [Son] |
2/F., Edward Wong Tower, 910 Cheung Sha
Wan Road, Kowloon, Hong Kong. |
|
Wong Ching Mao, Edward (British) [Father] |
C1, 7/F., 7-10 Ho Man Tin Hill Road,
Kowloon, Hong Kong. |
|
Stephen WONG (British) [Son] |
C1, 7/F., 7-10 Ho Man Tin Hill Road,
Kowloon, Hong Kong. |
|
William Wong (British) [Son] |
C1, 7/F., 7-10 Ho Man Tin Hill Road,
Kowloon, Hong Kong. |
(As per registry dated 17-12-2011)
|
Name |
Address |
Co.
No. |
|
Takano
Secretarial Services Ltd. |
1/F., Edward Wong Tower, 910 Cheung Sha Wan Road, Kowloon, Hong Kong. |
0091543 |
The
subject was incorporated on 17th December, 1962 as a private limited liability company
under the Hong Kong Companies Ordinance to take over the business of Edward
Wong & Co., a partnership concern which was established in May 1957.
Formerly
the subject was located at 3/F., Edward Wong Tower, 910 Cheung Sha Wan Road,
Kowloon, Hong Kong, moved to 1/F. & 2/F. of the same building in July
2003.
Apart
from these, neither material change nor amendment has been ever traced and
noted.
Activities: Importer, Exporter and Manufacturer’s Representative; Investment Holding and Finance.
Lines:-
Import — All kinds of fabrics, cotton yarns and woollen yarns, raw hides or skins, leather without hair on, chemicals and metals, watch movements, etc.
Export — All kinds of fabrics, knitted and woven garments, consumer electronics, sport shoes, watches and other light industrial products.
Office Space: 2,574 sq.m. (Joint office with group members)
Group Employees: 190.
Commodities Imported:-
Woven apparel fabric – China, Taiwan and Hong Kong.
100% cotton yarn and polyester/cotton blended yarn – Pakistan, Japan, Korea, Taiwan and China.
Woollen yarn – China, Korea, Japan, Taiwan and East Europe.
Wooltops, scoured wool and greasy wool – Australia, New Zealand and South America.
Knitting needles – Korea.
Hides and leather – Australia, Canada, US, Switzerland, Brazil, Portugal, South Africa, Central America, Korea, Japan, Italy, Bangladesh and India.
Markets: Hong Kong, China, Europe, US, Canada, Japan, Australia, Russia, etc.
Yearly Group Turnover: HK$1.1~1.2 billion.
Terms/Sales:-
For local: COD or 30-60 days settlements.
For abroad: L/C (50%) and D/P (50%).
Terms/Buying: L/C, T/T, etc.
Itochu
Corporation, Japan.
Mitsubishi
Corporation (Hong Kong) Ltd., Hong Kong.
Mitsui & Co.
Ltd., Japan.
Tachu Co. Ltd.,
Japan.
Taiko Oil Chemical
Co. Ltd., Japan.
Tomen Corporation,
Japan.
Towa Velveteen
Trading Co. Ltd., Japan.
Yagi Tsusho Kaisha
Ltd., Japan.
The Chinese
General Chamber of Commerce, Hong Kong.
The Chinese
Manufacturers’ Association of Hong Kong, Hong Kong.
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKE0118]
Nominal Share
Capital: HK$10,000,000.00 (Divided into 20,000 Ordinary shares and 80,000
Deferred shares of HK$100.00 each)
Issued Share
Capital: HK$8,000,200.00
Alternation
of Capital:-
|
02-01-1963 |
paid up |
HK$ 600,000.00 |
|
04-06-1966 |
paid up |
HK$ 400,000.00 |
|
25-04-1970 |
paid up |
HK$ 1,000,000.00 |
|
02-11-1974 |
paid up |
HK$ 1,000,000.00 |
|
05-05-1975 |
paid up |
HK$ 2,000,000.00 |
|
15-03-1976 |
paid up |
HK$ 3,000,000.00 |
|
15-01-1997 |
paid up |
HK$ 200.00 |
|
|
|
––––––––––––––– |
|
Total: |
paid up |
HK$ 8,000,200.00 ============== |
Increases
of Nominal Capital:-
|
From |
HK$1,000,000.00 |
to |
HK$ 3,000,000.00 |
on |
25-04-1970 |
|
From |
HK$3,000,000.00 |
to |
HK$ 5,000,000.00 |
on |
05-05-1975 |
|
From |
HK$5,000,000.00 |
to |
HK$10,000,000.00 |
on |
15-03-1976 |
Mortgage or Charge : (See attachment)
Profit or Loss : Making a small profit every year.
Condition : Keeping in an active manner.
Facilities : Making active use of general banking facilities.
Payment : So far so good.
Commercial Morality : Satisfactory.
Bankers:-
The Hongkong & Shanghai Banking Corp. Ltd., Hong Kong.
Standard Chartered Bank (Hong Kong) Ltd., Hong Kong.
Industrial &
Commercial Bank of China (Asia) Ltd., Hong Kong.
Bank of America
N.A., Hong Kong Branch.
Wing Hang Bank
Ltd., Hong Kong.
Deutsche Bank AG,
Hong Kong Branch.
Bangkok Bank Public
Co. Ltd., Hong Kong Branch.
Shanghai
Commercial Bank Ltd., Hong Kong.
Lloyds TSB Bank
plc, Hong Kong Branch.
Hang Seng Bank
Ltd., Hong Kong.
China Construction
Bank (Asia) Corporation Ltd., Hong Kong.
The Bank of
Tokyo-Mitsubishi UFJ Ltd., Hong Kong Branch.
Royal Bank of
Canada, Hong Kong Branch.
DZ Bank AG
Deutsche Zentral-Genossenschaftsbank, Frankfurt AM Main, Hong Kong Branch.
Coöperatieve
Centrale Raiffeisen-Boerenleenbank B.A., Hong Kong Branch. [Trading as Rabobank International]
etc.
Banking:-
One source reports
they maintain a very active and well conducted current account opened in
January 1967, on which they grant moderate secured facilities. They finance a good volume of their import
bills and negotiate a large volume of their export bills mainly under L/C to
their entire satisfactory.
Standing: Very good.
Edward
Wong & Co. Ltd. has been well-established since its incorporation in
1962. It is the principal member of the
Edward Wong Group which was founded by Mr. Edward Wong Ching Mao.
Being
a native of Ningbo, Mr. Edward Wong Ching Mao, aged 73, is a capable and
experienced businessman with good financial standing. His spouse Mrs. Yolanda Wong Chen is the
sister of Mr. Chen Din Hwa who is the Chairman of Nan Fung Group.
The
subject is trading in leather/hide, cotton yarns, woollen yarns, wool tops,
fabrics, leather, etc.
Mr.
Wong has three sons who are currently directors of the subject. Came to Hong Kong in the late 1940s when
China was in civil war, Mr. Wong set up his first company known as Edward
Wong & Co. in 1957. This firm
principally was engaged in wholesaling and retailing of leather goods and
accessories for shoemaking. With vigorous
efforts, it was able to expand its leather business and diversified into importing
woollen yarns and synthetic fibres. In
1962, the subject was incorporated under the present name Edward Wong & Co.
Ltd. By the end of the 1960s, the
subject’s business had further diversified into the exportation of garments,
and set up the fabric department. In the
years ensuring, several more companies were set up which have formed the Edward
Wong Group. Now, the principal
activities of the Group are trading, property development and financing.
The
member of the Group responsible for financing is Edward Wong Finance Co. Ltd.
which was incorporated in 1975. This
firm provides small and medium companies with financing services. In 1982, the Group acquired a licensed deposit-taking
company which was renamed Edward Wong Credit Ltd., an authorised institution
under the regulation of Hong Kong Monetary Authority.
The
headquarter building Edward Wong Tower in Hong Kong, completed in 1992, was one
of the Group’s earliest real estate projects.
Edward Wong Development Co. Ltd. [EWD], a real estate company set up in
1993, is engaged in the real estate business which covers properties
development and properties management.
Business territories cover the United States, Canada, Singapore, China
and Hong Kong.
Edward
Wong Garment Co. Ltd. [EWG], incorporated in 1996, is a wholly-owned subsidiary
of the subject engaged in manufacturing and the sales of knitted and woven
garments for men, ladies and children.
EWG has been one of the leading garment manufacturers and exporters in
Hong Kong. It has set up two divisions:
Woven Division and Knitwear Division.
EWG
is one of the leading manufacturers and exporters in Hong Kong and with more
than fifty years of experience in the trade.
It has built teams of specialists to develop and manufacture various
types of garments. Its headquarters are
located in Hong Kong while its manufacturing factories in Mainland China,
Vietnam and Bangladesh. It produces both
products in knits and woven. EWG also
receives OEM orders.
EWG
is exporting its products to the European countries and the United States. Main markets are Sweden, Norway, Denmark,
Germany, the Netherlands, the United Kingdom, Australia, Japan and the United
States. Today, it is working with many
reputable international companies and stores around the world such as
Billabong, Country Road, Xandres, Paletti, The Barn, Van Der Wijk, A & F,
BCBG.
The
subject’s leather department is trading in wet salted raw hides and skins,
horse hides and bovine skins. Its sales
representatives have close contact with local and China tanneries.
The
subject imports full range of yarns from Pakistan, Japan, South Korea, Taiwan
and China. Among the materials imported
are 100% cotton yarn and polyester/cotton blended yarn. Major market is the local knitting and
weaving factories while some yarns are re-exported to neighbouring
countries. A vast varieties of yarns are
imported from Mainland China, Taiwan, South Korea, Japan and Eastern European
countries. It also imports very large
quantities of wool tops, scoured wool and greasy wool from Australia, New
Zealand and South America for commission spinning. As far as fabrics are concerned, the subject
imports fabrics from China, Taiwan and acquired in Hong Kong. Fabrics are exported or re-exported to the
United States, Europe, Australia while some of the clients are local garment
manufacturers. In China, the subject has
got its own dyeing mill equipped with advanced machinery and equipment.
The
Group’s Edward Wong Credit Ltd. and Edward Wong Finance Co. Ltd. are aim to
provide custom-made financial services to commercial and industrial enterprises
in Hong Kong.
Over
the last four decades, the Group has established itself as a reputable and
diversified group with businesses of trading, corporate banking and real estate
investment and development. Currently it
has about 190 staff. Annual sales
turnover of the Group ranges from HK$1.1 to 1.2 billion which is very significant.
The
subject has a history of about 50 years in Hong Kong.
On the whole,
consider it good for normal business engagements.
Brief
information of the principal directors:-
Mr.
WONG Ching Mao, Edward, Founder and Chairman of the
Group, is the Chairman of EWD’s board and regularly advises them in terms of strategic
directions and investment strategies.
Mr.
Stephen S. S. WONG, B. BA, B. Arch, MSIM, AIA, is the Managing
Director for EWD and is responsible for overall strategic planning, finance and
operation of our real estate investment and development activities, along with
other global strategic investments in non-real estate activities. Since the early 1990’s, Stephen has been the
catalyst for the Group’s investments into China, US and Canada. In Shanghai, China, the Group is one of the
founding partners for the Chongbang Group and the Forrester Group in China; the
Palladium Group in British Columbia, and Sunny Hills-Palladium LLC in
California, engaging in both investment and development activities in Canada
and the US.
Stephen
is a qualified licensed architect by training from the State of California and
a member of the American Institute of Architects with extensive experience on
real estate development and investment projects. Prior to joining the Group, Stephen had
worked with Sino Land Co. Ltd. (stock code 083 in Hong Kong) as a Senior
Project Manager, and as intern architect at Anshen + Allen Architects in Los
Angeles. Currently, Stephen sits on the
board of HSBC Bank (China) Co. Ltd. as a Non‑Executive Director. Stephen has a Master degree from the Graduate
School of Business at Stanford University where he was a Sloan Fellow; a
Bachelor degree in Business Administration with emphasis in Real Estate Finance
and Development and a Bachelor degree in Architecture, both from the University
of Southern California.
|
Date |
Plaintiff |
Defendant |
Cause |
Amount |
|
Dec. 1993 |
Design Beyond
Ltd. |
Edward Wong
& Co. Ltd. |
Amount due |
HK$239,049 |
|
June 1993 |
Guider
Investment Ltd. |
Edward Wong
Godown Co. Ltd. |
Breach of Contract |
Not stated |
|
Jan. 1995 |
Hebei Textile
(HK) Ltd. |
Edward Wong
Godown Co. Ltd. and others |
Damages |
Not stated |
|
July 1999 |
Metrowell
Holdings Ltd. |
Edward Wong
Finance Co. Ltd. |
Declaration |
Not stated |
|
Nov. 2001 |
Goldmex Ltd., Belking Ltd., World Kingdom Ltd. and First Champion Ltd. |
Edward Wong Finance Co. Ltd. |
Declaration |
Not stated |
Property information of the
Group:-
1. Property
Location: Flat No. 1 on 6/F. of
Block C and Car Parking Spaces Nos. D14 & C20, Fairland Gardens, 7 Ho Man
Tin Hill Road, Kowloon, Hong Kong.
Owner: Edward
Wong & Co. Ltd.
Date of Purchase: 11-11-1992
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
|
08-04-2002 |
- |
Hang Seng Bank Ltd., Hong Kong. |
Mortgage to secure general banking
facilities granted to Edward Wong & Co. Ltd., Edward Wong Finance Co.
Ltd., Edward Wong Development Co. Ltd., Edward Wong Garment Co. Ltd. and
Bright Scene Estates Ltd., New Iris Properties (Hong Kong) Ltd. and First
Trading Co. Ltd. |
2. Property
Location: Flat No. 1 on 7/F. of
Block C and Car Parking Spaces Nos. B4 & C13, Fairland Gardens, 7 Ho Man
Tin Hill Road, Kowloon, Hong Kong.
Owner: Edward
Wong & Co. Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
03-12-1993 |
- |
Standard Chartered Bank, Hong Kong Branch. [Business transferred to Standard Chartered
Bank (Hong Kong) Ltd.] |
Legal charge to secure general banking facilities granted to Edward
Wong & Co. Ltd., Edward Wong Finance Co. Ltd. and Lionbell Co. Ltd. |
3. Property
Location: Factory Unit A on 7/F.,
Sing Mei Industrial Building,
29-37 Kwai Wing Road, Kwai Chung, Tsuen Wan, New Territories, Hong Kong.
Owner: Edward
Wong & Co. Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances: No mortgage record
registered against the property.
4. Property
Location: Portion of 2/F. (Flat No.
304), Homantin Mansion,
19-21C Ho Man Tin Street, Kowloon, Hong Kong.
Owner: Edward Wong & Co. Ltd.
Date of
Purchase: n.a.
Purchased
Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
03-12-1993 |
- |
Standard Chartered Bank, Hong Kong Branch. [Business transferred to Standard Chartered
Bank (Hong Kong) Ltd.] |
Legal charge to secure general banking facilities granted to Edward
Wong & Co. Ltd., Edward Wong Finance Co. Ltd. and Lionbell Co. Ltd. |
5. Property Location: 3/F., 1039-1041 Tung Chau West Street, Kowloon, Hong Kong.
Owner: Edward Wong Development Co. Ltd.
Date of
Purchase: 24-07-1990
Purchased
Price: n.a.
Incumbrances: No mortgage record registered against the
property.
6. Property Location: Edward Wong Tower, 910 Cheung Sha Wan Road, Kowloon,
Hong Kong.
Owner: Edward Wong Development Co. Ltd.
Date of
Purchase: n.a.
Purchased
Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount
Consideration |
Mortgagee |
Nature |
|
29-03-1994 |
- |
Belgian Bank, Hong Kong Branch.
[Business was taken over by Industrial & Commercial Bank of China
(Asia) Ltd.] |
Legal charge to secure general banking facilities |
7. Property
Location: Room 1112 on 11/F., Peninsula
Centre, 67 Mody Road, Kowloon, Hong Kong.
Owner: Extragold
Investment Ltd.
Date of Purchase: 30-05-1981
Purchased Price: HK$2,523,650
Incumbrances: No mortgage record
registered against the property.
8. Property
Location: Room 1113 on 11/F., Peninsula
Centre, 67 Mody Road, Kowloon, Hong Kong.
Owner: Hardelore
Enterprises Ltd.
Date of Purchase: 30-05-1981
Purchased Price: HK$2,311,174
Incumbrances: No mortgage record
registered against the property.
9. Property
Location: Car Parking Space No. 39
on Basement Floor, Peninsula Centre, 67 Mody Road, Kowloon, Hong Kong.
Owner: Takings
Industries Ltd.
Date of Purchase: 02-05-1982
Purchased Price: HK$300,000
Incumbrances: No mortgage record
registered against the property.
|
Date |
Particulars |
Amount |
|
18-12-1975 |
Instrument: Mortgage Property: 343/5,000th parts or shares of and in
Section D of Kowloon Marine Lot No. 40 and Subsection 2 of Section B of
Kowloon Marine Lot No. 40 Mortgagee: Standard
Chartered Bank, Hong Kong Branch.
[Business transferred to Standard Chartered Bank (Hong Kong)
Ltd.] |
HK$3,786,050 |
|
27-02-1976 |
Instrument: Debenture Property: All those plant machinery and accessories Mortgagee: Standard
Chartered Bank, Hong Kong Branch.
[Business transferred to Standard Chartered Bank (Hong Kong)
Ltd.] |
HK$810,000 |
|
26-08-1976 |
Instrument: Deed
of Consolidation Property: 1) 343/5,000th parts or shares
of and in Section D of Kowloon Marine Lot No. 40 and Subsection 2 of Section
B of Kowloon Marine Lot No. 40 2) All those the plant machinery and
accessories comprised in and charged by the said debenture dated released
27-02-1976 Mortgagee: Standard
Chartered Bank, Hong Kong Branch.
[Business transferred to Standard Chartered Bank (Hong Kong)
Ltd.] |
Total extent of HK$6,596,050 granted to the company by the bank under
a mortgage dated 11-12-1975 another mortgage dated 18-12-1975 and a debenture
dated 27‑02‑1976 |
|
28-09-1983 |
Instrument: Collateral
Mortgage Property: 1) 2/6th parts or shares of and
in New Kowloon Inland Lot Nos. 3879 & 3880 [Released] 2) 1/31st part or share of and
in Section A of Kowloon Inland Lot No. 2138 and the Remaining Portion of
Kowloon Inland Lot No. 2138 [Released] 3) 30/470th parts or shares of
and in Kwai Chung Town Lot No. 36
[Partially released] 4) 12/887th parts or shares of and in Kowloon
Inland Lot No. 3308 and Kowloon Inland Lot No. 3309 [Released] Mortgagee: Standard
Chartered Bank, Hong Kong Branch.
[Business transferred to Standard Chartered Bank (Hong Kong)
Ltd.] |
HK$20,250,000 |
|
03-12-1993 |
Instrument: Legal
Charge [the Deed] entered into between (1) the Mortgagor, (2) Edward
Wong & Co. Ltd., Edward Wong Finance Co. Ltd. and Lionbell Co. Ltd. [collectively
the Borrower] and (3) Standard Chartered Bank [the Bank] Property: 12/887th parts or shares of and in Kowloon
Inland Lot No. 3308 and Kowloon Inland Lot No. 3309 (Flat No. 1 on 7/F.
of Block C and Car Parking Spaces Nos. B4 & C13 of Fairland Gardens, 7 Ho
Man Tin Hill Road, Kowloon, Hong Kong.) Mortgagee: Standard
Chartered Bank, Hong Kong Branch.
[Business transferred to Standard Chartered Bank (Hong Kong)
Ltd.] |
To secure the due and punctual payment of the Secured Indebtedness |
|
03-12-1993 |
Instrument: Legal
Charge [the Deed] entered into between (1) the Mortgagor, (2) Edward
Wong & Co. Ltd., Edward Wong Finance Co. Ltd. and Lionbell Co. Ltd.
[collectively the Borrower] and (3) Standard Chartered Bank [the Bank] Property: 1/31st part or share of and in Section A
of Kowloon Inland Lot No. 2138 and The Remaining Portion of Kowloon Inland
Lot No. 2138 [Portion of 2/F. (Flat No. 304) of Homantin Mansion, 19-21C
Ho Man Tin Street, Kowloon, Hong Kong.] Mortgagee: Standard
Chartered Bank, Hong Kong Branch.
[Business transferred to Standard Chartered Bank (Hong Kong)
Ltd.] |
To secure the due and punctual payment of the Secured Indebtedness |
|
08-04-2002 |
Instrument: Mortgage Property: 12/887th parts or shares of and in Kowloon
Inland Lot No. 3308 and Kowloon Inland Lot No. 3309 and the extension
thereto (Flat No. 1 on 6/F. of Block C and Car Parking Space Nos. D14 &
C20 of Fairland Garden, 7 Ho Man Tin Hill Road, Kowloon, Hong Kong.) Mortgagee: Hang
Seng Bank Ltd., Hong Kong. |
To secure “all moneys” in respect of general banking facilities
granted to Edward Wong & Co. Ltd., Edward Wong Finance Co. Ltd., Edward
Wong Development Co. Ltd., Edward Wong Garment Co. Ltd., Bright Scene Estates
Ltd., New Iris Properties (Hong Kong) Ltd. and First Trading Co. Ltd. |
|
20-10-2010 |
Instrument: Security
Agreement over Bank Account Property: By way of a first fixed charge all of the
Chargor’s rights in respect of any amount standing to the credit of the
Account from time to time and the debt represented by it Mortgagee: Standard
Chartered Bank (Hong Kong) Ltd., Hong Kong. |
To secure the payment and satisfaction of all present and future
obligations and liabilities |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.31 |
|
|
1 |
Rs.77.84 |
|
Euro |
1 |
Rs.65.35 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.